U S removes Xiaomi from blacklist, reversing late China jab by Trump netscape.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from netscape.com Daily Mail and Mail on Sunday newspapers.
US Will Remove Xiaomi From Blacklist, Reversing Action by Trump
WASHINGTON The U.S. Defense Department will remove China’s Xiaomi from a government blacklist, a court filing shows, marking a reversal by the Biden administration of one of former President Donald Trump’s last actions aimed at Beijing before exiting office.
The court filing stated that the company and the U.S. government would agree to resolve their ongoing litigation, bringing to an end a brief conflict between the hardware company and Washington.
A Xiaomi spokeswoman said the company is watching the latest developments closely, without elaborating.
Shares in the company jumped more than 6 percent in Hong Kong as news of the decision spread. The company’s share price has tumbled roughly 20 percent since it was placed on the blacklist in January.
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US will remove Xiaomi from blacklist, reversing jab by Trump The U.S Defense Department will remove China s Xiaomi Corp from a government blacklist, a court filing showed, marking a reversal by the Biden administration of one of Donald Trump s last jabs at Beijing before exiting office.
FILE PHOTO: The logo of Xiaomi is seen inside the company s office in Bengaluru, India, January 18, 2018. REUTERS/Abhishek N. Chinnappa/File Photo
13 May 2021 02:25AM Share this content
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WASHINGTON: The U.S Defense Department will remove China s Xiaomi Corp from a government blacklist, a court filing showed, marking a reversal by the Biden administration of one of Donald Trump s last jabs at Beijing before exiting office.
The Straits Times
Xiaomi shares up in Hong Kong after US removes it from blacklist
Xiaomi shares rocketed over 6 per cent in Hong Kong following the announcement, on May 12, 2021.PHOTO: REUTERS
PublishedMay 12, 2021, 9:10 pm SGT
https://str.sg/JvZr
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